Florida Estate Planning Lawyer Blog
3. What Are some disadvantages of Florida Revocable Trusts
Re-Registration of Property and Changes to Beneficiary Designations
In order for the trust to ensure the continuity of management of the assets and Florida probate avoidance the trust must be funded through a process of retitling assets of the estate. Depending on if there is a change in beneficial interest, there may be fees due when the new Florida Deeds are filed. If there is no change in the beneficial interest there are no additional document taxes due.
Increased initial costs
The costs to initially prepare a trust is more then a will given it is typically a more complicated and extensive document although the ultimate costs of having the trust and saving on the probate administration and other expenses is less.